Embattled retailer Steinhoff International sunk deeper into the red as its shares fell on a R185 billion class-action lawsuit from investors who wanted to recoup losses suffered after the retailer wiped off R200bn in the market value in December. Steinhoff extended its losses on Friday morning, surrendering 13 percent in early trade to R2 from Wednesday's closing price of R2.34 when the consortium of lawyers approached the South Gauteng High Court with the lawsuit.
The South African Transport and Allied Workers' Union on Monday said it was calling on the Passenger Rail Agency of South Africa to accelerate its modernisation programme after commuters went on a rampage in Soweto, Johannesburg, last week. “In response, Prasa suspended the service until Sunday, saying the delay was due to cable theft.
The African Daily Voice Group announced on Monday the launch of a new continental news agency: ADV . Based in Malabo, Equatorial Guinea, the multinational company specialized in content, and the media, has a newsroom in Casablanca and offers multilingual services .
South Africa's top court ruled that the appointment of the nation's chief prosecutor, Shaun Abrahams, was invalid because his predecessor was unlawfully removed from office, and ordered President Cyril Ramaphosa to appoint a replacement within 90 days. The ruling is a boost for Ramaphosa, who has pledged to stamp out graft since he took office in February, when the ruling party forced Jacob Zuma to step down after a scandal-marred tenure.
South Africa's Constitutional Court on Monday ruled the appointment of the chief prosecutor, who was given his job after former president Jacob Zuma removed his predecessor, was invalid and ordered that he be replaced within 90 days. Former Head of the National Prosecuting Authority of South Africa, Mxolisi Nxasana leaves the Constitutional Court in Johannesburg, South Africa, August 13,2018.
Johannesburg Mayor Herman Mashaba has waded into controversy by tweeting a comparison between controversial US President Donald Trump, who is labelled as a “success”, and President Cyril Ramaphosa, dubbed a “failure” in the side by side images. Mashaba's post, which his office said he tweeted in his personal capacity, said “Judge for yourself”, and listed some of Trump's “successes” as “reduced taxes”, “stricter immigration control” and “economic growth”.
FILE PHOTO: A Barclays logo is pictured outside the Barclays towers in Johannesburg, South Africa, December 16, 2015. REUTERS/Siphiwe Sibeko/File Photo The move shows Barclays putting its Brexit contingency plans into action, in common with other banks which are not waiting for the outcome of negotiations over how financial services will operate after Britain leaves the EU in March.
When President Thabo Mbeki quoted The Second Coming by WB Yeats in his opening address at the 18th World Petroleum Congress in Johannesburg in 2005 the first of many times he has quoted the Irish poet his words could not have been more prophetic. Thirteen years later, with South Africa and the ANC stuck in an ever-widening vortex of populist concessions to make up for its own failures of the past 24 years, the poem provides an apt title for political analyst and governance specialist Judith February's book on democracy in the southernmost country in Africa.
CRRC employees operate an assembly line of the company in Qingdao, Shandong province. [Photo by Zhang Jingang/For China Daily] Addressing the BRICS Business Forum in Johannesburg, South Africa, on July 25, President Xi Jinping said: “Success comes only through hard work.”
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